MKT 100 EXAM 1
Question 1
Potential strategic fit is a function of all of the following EXCEPT:
A. firm’s strengths
B. firm’s resources
C. brand personalities
D. product prices
Question 2
What are two perspectives a business can use in assessing each segment’s attractiveness in terms of its potential for targeting?
A. profitability and marketability
B. profitability and strategic fit
C. marketability and strategic fit
D. marketability and positioning
Question 3
A company tries to serve the segments whose needs match their _______, and in doing so hope to make very happy and loyal customers who will be very profitable.
A. abilities to deliver/delight
B. Opportunities
C. financial resources
D. Targets
Question 4
Fiat Chrysler is developing a marketing strategy for a new hybrid car and just discovered that their biggest competitor is launching a very similar product at almost exactly the same time. In a SWOT analysis, the competitor’s product would be a (n) _____.
A. Strength
B. Weakness
C. Opportunity
D. Threat
Question 5
A form of comparative analysis where customers show their opinions of another firm’s strengths vis-à-vis their competitors is a ______.
A. perceptual map
B. SWOT analysis
C. conjoint analysis
D. target comparison
Question 6
Which branding approach provides stronger financial outcomes to the company?
A. umbrella approach
B. house of brands
C. community branding
D. marketing approach
Question 7
Companies build associations to their brands through _____.
A. classical conditioning
B. operant conditioning
C. Learning
D. behavioral studies
Question 8
A brand name whose image is waning is less of a liability in which approach?
A. umbrella approach
B. community approach
C. house of brands
D. marketing approach
Question 9
Which is an example of co-branding?
A. Krispy Kreme gets a new donut flavor
B. Nike offers golf balls as part of its golf line
C. QuickBooks has its basic software, a version for Macs, another for small business needs, and premier packets for professionals, nonprofits, retailers
D. Brembo brakes are in Aston Martins
Question 10
One way marketers get customers to relate to brands is by creating a brand _______, such as Apple’s classification as “exciting” or how Gillette is action oriented.
A. Spokesperson
B. Image
C. Personality
D. Awareness
Question 11
A __________ is the general term used to describe both goods and services.
A. Price
B. Product
C. Promotion
D. Place
Question 12
Marianne is shopping for a new Apple Watch. Which of the 4Ps is most central to her purchase?
A. Price
B. Promotion
C. Place
D. Product
Question 13
_______ attributes are those that require some trial or consumption before evaluation.
A. Search
B. Product
C. Credence
D. Experience
Question 14
A _____ is comprised of several product lines that can vary in breadth and depth.
A. product mix
B. marketing mix
C. Company
D. Service
Question 15
What does good variability consists of?
A. Errors in the system, logistics, human resources and marketers want to reduce this variability.
B. The customization and tailoring of the service delivery for the customer’s unique needs.
C. A service provider representing the company.
D. Advancing in many industries wherein a customer interacts with technology, banking, airport check-in, etc.
Question 16
Hannah and Ellen rely on consistent messages received via word of mouth, and are older and more conservative than other customers of Product X. Hannah and Ellen most likely fall into which of the following categories?
A. late majority
B. early majority
C. laggards
D. innovators
Question 17
In which phase of the Product Life Cycle is customer awareness getting stronger, and there may be some buzz in the marketplace?
A. market introduction
B. Decline
C. market growth
D. Maturity
Question 18
What term refers to the group of people who are the most risk averse, skeptical of new products, and stereotypically lower in income?
A. early adopters
B. early majority
C. innovators
D. laggards
Question 19
If a company wants to be innovative, which strategy are they most likely to use?
A. market penetration
B. product development
C. market development
D. diversification
Question 20
At which stage in the new product development process does the company have a number of ideas that it thinks might work, and gets customers’ feedback as to which ideas sound most promising?
A. test marketing
B. concept testing
C. product development
D. product testing
Question 21
The different types of purchases are different because ______.
A. of the product itself
B. of differences in the mind of the customer
C. of customer attitudes
D. the price varies
Question 22
Which phase of the vehicle purchase process generates word of mouth?
A. customer evaluation
B. pre-purchase
C. Purchase
D. post-purchase
Question 23
A ____ item is something that is purchased without much thought before the purchase.
A. Quick
B. Specialty
C. Convenience
D. Shopping
Question 24
If a company wants a customer to have a higher motivation to learn more about their products, they should do what?
A. create customer involvement
B. advertise more
C. lower prices
D. increase brand awareness
Question 25
Customer involvement is ____ on a B2C specialty purchase.
A. Very low
B. Low
C. Medium
D. High
Question 26
Instead of trying to appeal to the entire marketplace, smart marketers and smart companies will try to find out ______.
A. what will appeal to high end customers
B. which customers might like their product, and how to get the product into their hands
C. which customers are price sensitive
D. which customers have brand loyalty and seek a brand image similar to other brands they like
Question 27
__________ means that each customer serves as his or her own segment. This approach sounds appealing from the customer point of view because the product would be tailored specially for each person’s idiosyncratic desires.
A. Geographic marketing
B. One-to-one marketing
C. Mass marketing
D. Psychological marketing
Question 28
Newlyweds are most likely to spend money on which of the following?
A. charitable giving
B. Furniture
C. Music
D. health care
Question 29
As segments increase in size, it becomes _______ to satisfy them with the same product.
A. more difficult
B. Easier
C. Cheaper
D. more fun
Question 30
_______ means that all customers are treated the same. This approach might sound attractive because it simplifies the marketing task, but it is usually unrealistic because customers differ.
A. One-to-one marketing
B. Gender marketing
C. Group marketing
D. Mass marketing
Question 31
The 4Ps include all of the following EXCEPT:
A. Positioning
B. Price
C. Product
D. Place
Question 32
Most firms advertising’s goal is to enhance _____.
A. Brand Image
B. Profit
C. Marketing
D. Purchases
Question 33
Fundamentally, the best marketers at any company put themselves in the place of their _____.
A. Company
B. Customers
C. Competitors
D. Friends
Question 34
Due to marketing’s success in business, what do management gurus think about marketing’s role in a company?
A. they think its role is to direct sales
B. it takes no special skill to be a good marketer anymore
C. that it’s not just a function anymore
D. it’s the most important aspect
Question 35
_____ and _____ are the central players in the marketing exchange.
A. Context, customer
B. Collaborator, competitor
C. Context, company
D. Customer, company
Question 36
Product leadership refers to companies that ______.
A. are good at production and delivery, and price and convenience
B. are expensive but is expected to pay off in long-term loyalty and enhanced customer lifetime value
C. pride themselves on quality and innovation
D. are willing to tailor their products to particular customer needs
Question 37
A firm’s positioning statement should address their target segment. Anything else they’ll say in the positioning statement will have _______ meaning to customers who are not in that segment.
A. a lot of
B. No
C. very significant
D. Confusing
Question 38
The positioning statement can serve as an internal memorandum keeping all managers aligned as a basic guiding principle in all their collective decisions, so as to enhance the likelihood of ______ in the results of those decisions.
A. Innovation
B. Consistencies
C. Boredom
D. Excitement
Question 39
Marketers and senior managers like to see graphical depictions of where their brands are, and where their competitors are in the minds of their customers. What are these called?
A. Histograms
B. perceptual maps
C. Genograms
D. opinion charts
Question 40
Operational excellence refers to companies that ________.
A. are good at production, delivery, price, and convenience
B. pride themselves on quality and innovation
C. are willing to tailor their products to particular customer needs
D. are expensive but is expected to pay off in long-term loyalty and enhanced customer lifetime value
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